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Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heavily in terms of freight rates. Yesterday, the BDI was up by 9 points to 743, with Panamaxes posting an increase of 35 points to 717 (Baltic Panamax Index), which was enough to push the market higher, as all other subsectors were mostly unchanged. According to a recent note from analysts Commodore Research & Consultancy, "Chinese demand for imported thermal coal has started the week at an extremely robust level and is poised to stay strong during the remainder of this week. 8 vessels were chartered to haul thermal coal cargoes to China on Monday (including 7 panamax vessels). This was a huge amount for a single day's worth of chartering activity.
During times of moderate demand, an average of 3 vessels are normally chartered to haul thermal coal cargoes to China each day. Demand is poised to stay robust throughout this week and into next week due to low Chinese coal port stockpiles and intensifying winter electricity demand. Coal stockpiles at Qinhuangdao (China's largest coal port) have fallen to 6.1 million tons. This is well below the crucial 7mt level that officials strive to maintain at all Coal stockpiles at Qinhuangdao times (Qinhuangdao is of great importance to Chinese officials, as it is the loading have fallen to 6.1mt, which is port for approximately 40% of China's coastal coal shipments)" said the analyst.
Still, according to Commodore, panamax rates aren't expected to find significant support in the near term. "We continue to anticipate that newbuilding deliveries will be very high this month. Dry bulk fleet growth traditionally surges every January, as owners normally delay a large amount of December deliveries to be delivered one month later in January. Delaying December deliveries allows owners to receive vessels that will be viewed as being a year younger. A year ago, for example, saw 19 panamax vessels delivered in December 2011 and then 39 delivered in January 2012. Delaying delivery just one month allowed owners to obtain a 2012-built vessel, rather than a 2011-built vessel. We strongly believe this trend will continue this year, which makes it unlikely that panamax rates will find significant support in the near term (the panamax market is currently the most oversupplied dry bulk vessel class and we expect it will remain so during all of 2013). The surge in Chinese thermal coal demand, however, is a positive sign regarding the Chinese economy and the Asian thermal coal market" it concluded.
In a separate note yesterday, shipbroker Fearnleys noted on the Panamax market that "some glimmers of hope mid-week with more cargoes entering the market, especially in the Atlantic. Some owners with ships able to breach IWL are able to get a premium for prompt cargoes, but regular Tarvs are now being fixed at around USD 6500 while fhauls with Continent delivery will fetch around USD 13-14k. In the Pacific we see rates at around USD 3-4k for round trips, more cargoes however will the number of ships absorb these cargoes? The period market has been somewhat more active beginning 2013 with a 2-year deals being done at USD 6.5 for an older vessel and around USD 7500 achievable for LME´s" it said.
In the Capesize market, Fearnleys said that "the past week has seen gradual increases in rates across all fronts in the Cape sector, both on the physical and paper side. Strong volume has come out of West Australia, causing rates to climb from USD 7 to 7.20 pmt, with prompt tonnage booked closer to the USD 8 pmt mark. However, at the time of writing, caution is being exercised in light of the approaching cyclone off the West Australia coast, and it remains to be seen whether this will put downward pressure on rates or not. Whilst Vale remains quiet, sentiment has slightly improved on fhaul, with better rates achieved for Tubarao/China (around 17.5 USD pmt). Similarly, slightly firmer numbers are being discussed for period business, with USD 8500 being done for 5-8 months, and a healthier USD 10,750 rate achieved for 9-13 months" the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
Friday, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
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- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Parliament of New Zealand
- Aditya Birla Group - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- PTC India Limited - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
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